Entertainer rescues Gadget Shop

The Entertainer has stepped in to buy troubled high-tech toy chain and online specialist, Gadget Shop, out of administration.

Author:: ToyNews Online
Publish date:: May 26, 2005
Social count:: 0

by Ronnie Dungan

The Entertainer has stepped in to buy troubled high-tech toy chain and online specialist, Gadget Shop, out of administration.

Gadget Shop, which specialised in high-tech games and gadgets, fell into administration in March whilst administrators, PKF, considered potential buyers.

The Entertainer deal will see the operation continue with both its online and High Street stores. A target list of Gadget Shop retail units in prime shopping centre locations is currently being drawn up. The numbers of stores involved have not been disclosed.

Entertainer boss Gary Grant (above) says: ?We have found fresh growth in our business through diversifying into new product ranges and The Gadget Shop offers The Entertainer Group an opportunity to expand into a unique market sector. The Gadget Shop will again be the place to buy unique gadgets and novelty gifts. We plan to ensure that this great brand continues to excite customers with unique products available both on the web and in stores.?

Mark Dixon, Buying and Marketing Director for The Entertainer, added: ?The current trading environment within the toys and games sector has led to us developing a new strategy to open up new product sectors. Acquiring the Gadget Shop is part of a strategy to diversify ensuring both the growth and profitability of The Entertainer Group.?

Hopes of a rescue package for the Gadget Shop chain, which has been operating in administration, have been dashed after two prospective buyers pulled out and the firm will now close.

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